Fortress Investment Group Acquires Industrial Property In Fremont For $29M
SOLD
$29,000,000
California
See Similar DealsIndustrial93,385 SF
Sold 06/24/2022
SOLD
Fortress Investment Group Acquires Industrial Property In Fremont For $29M
42744 Boscell Road, Fremont, California 94538, United States
See Similar DealsIndustrial93,385 SF
Sold 06/24/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$310
Total Square Footage:93,385 SF
Transaction Type:Sale
Fortress Investment Group - Wesley R. Edens has acquired an industrial property located at 42744 Boscell Road in Fremont. The property spans across 6.3 acres and is situated in the market of Fremont. The transaction took place on June 24, 2022, and the asset has a total area of 93,385 square feet. The sale price for the property was $29,000,000, resulting in a price per square foot of $310.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $29,000,000
- Address: 42744 Boscell Road, Fremont
- Market: Fremont
- Acres: 6.3
- Buyer: Fortress Investment Group - Wesley R. Edens
- Seller: Weiglein Properties, Sveiks Holdings & Glade Barne Holdings
- Brokers: Rick Keely & Greig Lagomarsino - Colliers
Rick Keely and Greig Lagomarsino from Colliers represented the buyer, Fortress Investment Group - Wesley R. Edens, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54
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